v3.26.1
Subsequent Events
12 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 11 — SUBSEQUENT EVENTS

 

April 2026 Offering

 

On April 19, 2026, the Company entered into a placement agency agreement with Maxim relating to a registered direct offering (the “April 2026 Offering”) of 750,000 shares of the Company’s common stock. The gross proceeds to the Company from the April 2026 Offering were approximately $3,375,000, before deducting offering expenses. The April 2026 Offering closed on April 21, 2026.

 

ATM Agreement

 

On April 17, 2026, the ATM Agreement was terminated.

 

Maxim ATM Agreement

 

On April 23, 2026, the Company entered into a Sales Agreement (the “2026 ATM Agreement”) with Maxim under which the Company may offer and sell, from time to time at its sole discretion, up to $100,000,000 of shares of its common stock through an “at the market offering” program under which Maxim will act as sales agent or principal. The 2026 ATM Agreement provides that Maxim will be entitled to compensation for its services equal to 3.0% of the gross proceeds from sales of any shares of common stock under the 2026 ATM Agreement. The Company has no obligation to sell any shares under the 2026 ATM Agreement and may, at any time, suspend solicitation and offers under the 2026 ATM Agreement.